PLANETART
Acquired by
GENERAL ATLANTIC
PLANETART acquired by GENERAL ATLANTIC
Target
PLANETART
Acquirer
GENERAL ATLANTIC
Context
Claranova completed the sale of its personalized photo division, PlanetArt, to a consortium led by General Atlantic Credit and the division's management team. The deal is a strategic imperative for Claranova to deleverage its balance sheet and pivot to a "pure-player" software model. The proceeds allow Claranova to refinance its remaining debt and focus on its high-margin segments: PDF (SodaPDF), Utilities (Adaware), and Photo Software (inPixio).
PLANETART, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as low as the 13.0x average currently observed in the TMT (Tech, Media, Telecom) sector.
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Target
PlanetArt is a world leader in mobile-to-print solutions and personalized e-commerce. Best known for its flagship app "FreePrints," the company allows users to print photos and create personalized gifts (photobooks, tiles, mugs) directly from their smartphones. Historically the largest revenue contributor to Claranova, PlanetArt operates a complex logistic and Corporate model, distinct from the software activities of the rest of the group. The division generates significant B2C volume but operates with lower margins compared to pure software publishing.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with PLANETART
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